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AbstractAs part of the roundtable "Economic Sanctions and Their Consequences," this essay discusses whether economic sanctions are morally acceptable policy tools. It notes that both conventional and targeted sanctions not only often fail to achieve their stated objectives but also bring about significant negative externalities in target countries. Economic dislocation and increases in political instability instigated by sanctions disproportionately affect the well-being of opposition groups and marginalized segments of society, while target elites and their support base remain insulated from the intended costs of foreign pressure. Sanctions might also incentivize target governments to use repressive means to consolidate their rule and weaken the opposition. Given these serious shortcomings, I argue that sanctions are ethically problematic tools of foreign policy. Nonetheless, this does not mean that sanctions should be rejected outright, as there might be cases where sanctions are the only viable option, and they might work effectively under certain circumstances. Rather, the essay suggests that policymakers should apply more caution in considering the use of sanctions given their low probability of success, and should be more concerned with the delicate balance between political gain and civilian pain before levying sanctions, whether comprehensive or targeted.

"This textbook applies economic ethics to evaluate the free market system and enables students to examine the impact of free markets using the three main ethical approaches: utilitarianism, principle-based ethics, and virtue ethics. Ethics and Economics systematically links empirical research to these ethical questions, with a focus on the core topics of happiness, inequality, and virtues. Each chapter offers a recommended further reading list, and digital supplements include a list of key terms. The final chapter provides a practical method for applying the different ethical approaches to morally evaluate an economic policy proposal and an example of the methodology being applied to a real-life policy. This book will give students a clear theoretical and methodological toolkit for analyzing the ethics of market policies, making it a valuable resource for courses on economic ethics and economic philosophy."

Distant Harms, Distant Markets looks at moral complicity in markets, employing resources from sociology, early Christian history, feminism, legal theory, and Catholic moral theology today. The author skillfully explores the causal and moral responsibilities which consumers bear for the harms that markets cause to distant others.

Ethics was a central preoccupation of medieval philosophers, and medieval ethical thought is rich, diverse, and inventive. Yet standard histories of ethics often skip quickly over the medievals, and histories of medieval philosophy often fail to do justice to the centrality of ethical concerns in medieval thought. This volume presents the full range of medieval ethics in Christian, Islamic, and Jewish philosophy in a way that is accessible to a non-specialist and reveals the liveliness and sophistication of medieval ethical thought. In Part I there is a series of historical chapters presenting developmental and contextual accounts of Christian, Islamic, and Jewish ethics. Part II offers topical chapters on such central themes as happiness, virtue, law, and freedom, as well as on less-studied aspects of medieval ethics such as economic ethics, the ethical dimensions of mysticism, and sin and grace. This will be an important volume for students of ethics and medieval philosophy

The Historical School of Economics develops a historical theory of the economy and of business ethics. It investigates the ethical and cultural determinants of economic behaviour and economic institutions and forms an ethical and cultural theory of economics and business and the origin what, in the present, is called "institutional economics". Being one of the first comprehensive studies in the English language of the German "Historical and Ethical School of Economics", the book presents the theory from Wilhelm Roscher to Gustav Schmoller, the foundations of historism and the humanities of Wilhelm Dilthey and their present relevance. It also makes visible which impact the Historical School has for the foundations of contemporary business ethics and the cultural theory of the economy

This book contains a range of essays on topics in the emerging field of "constitutional political economy". This field of enquiry is strongly associated with the name of James M. Buchanan whose research program has been the point of departure for this field. The essays are a selection of those written by colleagues and researchers in the field to honor Buchanan on the occasion of his 80th birthday. They cover a wide range of topics but fall primarily into two sets: one set dealing with methodological aspects of the c.p.e. approach; the other dealing with specific applications in a variety of policy areas, ranging from "economic transformation" to monetary policy regimes to health care. One particular issue in the methodological area relates to the model of motivation used - and more especially, the role of "morality" in economic and political behavior. The five essays on this topic make up one of the sections of the book, and justify reference to the issue in the volume's title

Economics as Moral Science investigates the problem of the ethical neutrality of "mainstream" economic theory within the context of the methodology of economics as a science. Against the conventional wisdom, the author argues that there are serious moral presuppositions to the theory, but that economics could still count as a scientific or rational form of inquiry. The basic questions addressed - the ethical implications of economics, its status as a scientific mode of theory-construction, and the relation between these factors - are absolutely fundamental ones for an understanding of contemporary economics, the philosophy of the human sciences, and our current market culture. Moreover, the study provides a thorough philosophical analysis of the critical issues at stake from the inside, from the credible perspective of a particular, but foundational economic theory - the neoclassical theory of rational choice

This paper offers a novel conceptual framework based on decision‐making institutions, structures and principles, for a systemic integration of ethics and economic development. Within this framework ethical issues are systematically incorporated into the main components of the decision‐making process for sustained economic and ethical development. These components include an optimal decision‐making structure based on merit and justice, proper decision‐making procedures, reliable information flows, rational and moral decision‐making criteria, and an effective motivation structure that includes both material and moral incentives